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Market recap: Sellers, skeptical of the market's ability to sustain recent gains as Europe's...

Market recap: Sellers, skeptical of the market's ability to sustain recent gains as Europe's leaders seem to pay only lip service to their fiscal condition, knocked ~2% off all the major indexes. Concern about European exposure of banks was hardly quelled by a better-than-expected Q3 report from Citigroup. Apple fell a bit despite its huge iPhone 4S launch. NYSE losers led gainers five to one.
Comments (9)
  • WMARKW
    , contributor
    Comments (10263) | Send Message
     
    Europe....hey, I thought the French and Germans fixed this last week....isn't that why the market went up? Or....perhaps we're just getting the Central Bank run around.....you know..."lip service".
    17 Oct 2011, 05:30 PM Reply Like
  • jjmc2001
    , contributor
    Comments (1272) | Send Message
     
    Groundhog Day Headline
    17 Oct 2011, 08:50 PM Reply Like
  • Insurance Bull
    , contributor
    Comments (357) | Send Message
     
    I still don't know why everyone bought into last week's rumors... I know everybody wants to be the first into a big rally but who wants to be the first to lose big money? Have to balance risk with reward...
    17 Oct 2011, 09:00 PM Reply Like
  • divinecomedy
    , contributor
    Comments (466) | Send Message
     
    If a rumor can cause the market to go up, we should have a rumor of a rumor or maybe rumor to the third degree, then it will act like those leveraged ETFs.
    17 Oct 2011, 09:23 PM Reply Like
  • muchbusiness
    , contributor
    Comments (247) | Send Message
     
    Pump: Euro Saved. Dump: Maybe.
    17 Oct 2011, 10:12 PM Reply Like
  • kickshark
    , contributor
    Comments (29) | Send Message
     
    Okay, this is the second part of "Bi-weekly" Greece is good and bad tirades. Yes, last week Germany and France agreed (or we believed so......) and this week they're not. And the market pendulum swings again.
    17 Oct 2011, 10:46 PM Reply Like
  • moreofthesame
    , contributor
    Comments (743) | Send Message
     
    The more the market moves up and down the more somebody is making money. If the politicians and bankers in europe are truly at the end of their wits then we should all pack up and move to an island.
    I just don't think that the game is truly up yet, things are still moving, we still have 5 to 20 years left I would say. Why this cat and mouse game?
    17 Oct 2011, 11:18 PM Reply Like
  • moreofthesame
    , contributor
    Comments (743) | Send Message
     
    It appears they all want the banks to take huge losses, the banks don't want that and also the nations are worried about the loss of credibilty that would bring. Why not start a worldwide reduction of government debt. Every country can get its proportionate share of debt reduction which means every bank would lose an equal share of credibility.
    Like re-setting the game to zero, may be we will play it better the next time around.
    17 Oct 2011, 11:32 PM Reply Like
  • KaviVerma
    , contributor
    Comments (33) | Send Message
     
    You can't reduce debt by issuing more debt . The market is waiting to see how far the deadline gets pushed , by an year or more , may be 2 or 3. And then it will need to cope up with the real problems of fixing the country fiscals.
    18 Oct 2011, 03:33 AM Reply Like
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